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HOMEFRONT 13 OCTOBER 2016 WWW.BDLIVE.CO.ZA WWW.BUSINESSLIVE.CO.ZA 13 NOVEMBER 2020
MUST-READ
Luxury ocean getaway PAGE 2
Stylish Parkhurst revamp PAGE 4
Buy a home at the coast PAGE 10
Oasis Retirement Resort in Century City, Cape Town
New moves Why Grenada is the new go-to PAGE 12
HomeFront compares generational property buying preferences – what interests baby boomers and where are Gen X-ers and millennials settling down? PAGE 8
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HOMEFRONT 13 OCTOBER 2016 WWW.BDLIVE.CO.ZA
Don’t miss the next edition on Friday, November 27 • Take a walk on the West Coast • Where to buy in Gauteng • Why sectional title is your best bet
HOMEFRONT
I
LEISURE
Passion, pride, position
used to think the term “vitamin sea” was overused. Corny even. Until the pandemic hit and we went into lockdown. I’d drive to the ocean almost daily just to gaze at the waves from my car. The 12 Apostles Hotel and Spa is on the Atlantic Seaboard, a good distance from the False Bay beaches on my side of Cape Town. The water to the east of the Cape Peninsula is warmer and shallower compared with the western side where this landmark establishment is. Idolised by locals and tourists alike, it is flanked by two other icons – the Twelve Apostles mountain range and Table Mountain National Park.
NATURAL HIGH I love the location for the apparent wildness of that coastline – the spectacle of huge waves crashing over rocks on a stormy day; strands of seaweed floating on the sparkling surface when the sun’s out. The sights, sounds and smells evoke memories of a natural environment I knew as a child was key to a happy holiday – before we had highbrow surveys to tell us so. During a recent stay at the invitation of its sister property Bouchard Finlayson, a boutique vineyard, I revelled in the service and style that have led to so many awards for this member of the Red Carnation Hotel Collection and The Leading Hotels of The World. Within the limitations of Covid-19 protocol, staff members were strict without being stifling, ensuring we were all safe to delight in their hospitality. Executive chef Christo Pretorius prepared a meticulously designed feast and head sommelier Gregory Mutambe oversaw the wine pairings as guests gathered in Azure Restaurant or on the terrace to make the most of the warm windless evening. Goat’s curd empanada, confit free-range chicken terrine and seared yellow-fin tuna were served with Bouchard Finlayson Sans Barrique (my favourite), Kaaimansgat and Missionvale Chardonnay respectively.
A sea-facing one-bedroom suite
Experts recommend coastal and mountain sanctuaries for health and wellbeing. This Cape Town icon offers the best of both worlds. Journalist Debbie Hathway reports on her recent stay at the 12 Apostles Hotel and Spa. WORDS: DEBBIE HATHWAY :: PHOTOS:SUPPLIED
Guests can walk along the hotel’s mountain trails
ODE TO THE OCEAN
The Leopard Bar
The terrace at Azure Restaurant
Lion’s Head and the Twelve Apostles mountain range, with the hotel in the foreground
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EDITORIAL TEAM Editor: Debbie Loots Designer: Samantha Durand
Copy Editor: Christine de Villiers Production: Lucea Goosen
Then it was the turn of the red wines – renowned cellar master Peter Finlayson’s forté. Moroccan lamb en croute paired with Hannibal (a Sangiovese/Pinot Noir blend), charcoal-grilled king oyster with Galpin Peak Pinot Noir, and grilled springbok loin with Tête de Cuvée Pinot Noir. Finally we sampled vanilla bean brûlée with the first Aurum straw wine by winemaker Chris Albrecht, and citruscured farmed kabeljou with Sauvignon Blanc. When Pretorius gave us a rundown of the menu, my ears pricked up at the mention of kabeljou. It’s a link to those childhood memories I mentioned earlier, of family holidays along the Wild Coast, eating the catch of the day reeled in by my father, an avid rock fisherman. Pretorius can relate. His favourite way to unwind after a busy shift? “Spending as much time as I can with my wife and daughter, preferably at the ocean, with a rod in my hand.” There are countless reasons to book your stay at The 12 Apostles Hotel and Spa. You only need one.
PUBLICATION ADVERTISING SALES Chantelle Balsdon Sabrina Ganter
chantelle@augmentcreative.com sabrina@thecreativegroup.info
084 061 7888 074 255 7455
FOCUS ON: OASIS RETIREMENT RESORT
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ver the past 14 years, Oasis Retirement Resort has proved to be one of the most popular retirement resorts in the Western Cape. Consisting of six highrise apartment blocks housing one-, two- and three-bedroom apartments for independent living, the resort is conveniently situated at Century City, close to the CBD and the V&A Waterfront, as well as the Southern and Northern suburbs.
LOCATION WINS
ADVERTORIAL
Live your best life now On the doorstep of one of the world’s most beautiful cities, Oasis’ luxury sectional title apartments make retiring in Cape Town an easy choice WORDS AND PHOTOS: SUPPLIED
Within easy reach of many popular beaches, wine farms and leisure spots, Oasis Retirement Resort is central to what Cape Town has to offer. Century City itself is a “city within a city” with an abundance of shopping and leisure options, health facilities and other professional services nearby. The resort is also a stone’s throw from the unique Intaka Island, which consists of a series of wetlands and manmade islands. The apartment blocks tower above magnificent landscaped gardens, streams and lawns, with beautiful views of Table Bay, Table Mountain, the Durbanville hills and the Hottentots Holland Mountains. The centrally situated clubhouse is surrounded by trees and water features. This state-of-the-art facility is the heart of the resort, housing a library, a restaurant, a coffee bar,
a billiards room and a multipurpose events room, as well as lounge and private dining areas where residents can meet up with old friends and make new ones. The gym incorporates a 25m heated indoor pool, the latest gym equipment, a sauna and a steam room. The Oasis Care Centre within the resort is a key factor for many people purchasing in this development. It provides four phases of care, including a physical rehabilitation wing licensed with the Board of Health Funders of Southern Africa; assisted living; frail care; and Alzheimer’s/dementia care. Very few facilities in the country offer such a range of care options in a five-star environment.
TOP FACILITIES The on-site sales team recently completed five sales to the total of R21,845,000 in only six weeks. These include a large eighth-floor threebedroom apartment with mountain and sea views; two two-bedroom apartments in the two original blocks, Palm Springs and Palm Grove; a large almost-new twobedroom apartment in the
sixth and final block, Palme Vue; and a large east-facing two-bedroom apartment that was sold at full asking price just after it was listed. The resort benefits from a triple layer of security: Century City hosts a 24hour CCTV control centre and patrols, whereas the resort has its own complement of guards and concierges at the entrance gates as well as at the apartments blocks. Sales and rental demand is strong because of the desire for safe, secure living in a luxury environment that offers independent living with the peace of mind that excellent back-up systems are in place. The clubhouse facilities, gym and indoor pool are slowly opening up in keeping with the easing of Covid-19 restrictions and residents are once again enjoying the social interaction the resort offers – but within strict distancing and bestpractice guidelines. Being able to walk in the beautiful landscaped gardens next to running water with prolific birdlife allows residents to “smell the roses” without having to leave the resort.
GET IN TOUCH OASIS RETIREMENT RESORT Tel: 082 495 7168 (Cindy Sheard), 082 785 6160 (Linda Butler), 083 270 4755 (Lorenda Gerryts) Facebook and Instagram: Oasis Retirement Resort oasisretirementresort.co.za
HOMEFRONT DESIGN
Hidden potential Renovation is never easy, especially when you manage the project yourself. Despite the challenges, Alet Verster successfully transformed her poky Parkhurst home into a light and airy entertainer’s dream in four months WORDS: SARAH MARJORIBANKS :: PHOTOS: NADINE DE BEER
B
ustling Parkhurst is one of Joburg’s most sought-after neighbourhoods – the ideal location for Alet Verster and Sebastian Chatov’s new home. However, the house itself was less than perfect. Owned by the same family for decades, the 210m 2 twobedroom home was in need of an update, with old fittings and peeling paint. Yet its timber floor and pressed tin ceilings hinted at its potential. As owner of interior and architectural studio Patsy & French, Alet took on the renovation, handling both the design and architecture and managing the project on site. Her goal was a gentle restoration of the home’s original features while creating a space that suits their lifestyle. “There’s a fine balance between retaining all original features and turning an old house into a home congruent with the way we live today,” says Alet. “I believe in playing with the contrast between old and new instead of trying to match the original elements. That way you honour the past while bringing in the current lifestyle.”
SURPRISE, SURPRISE! They made plenty of unexpected discoveries
along the way. “The house dates from the 1930s and so were the electricity and the plumbing. We had to gut all of that and rewire and replumb – it was my first encounter with a 1930s geyser,” says Alet. “On the lighter side, there were also some interesting finds, including where the previous owners who lived here for two generations had marked their kids’ heights growing up, a graduation photo from the ’80s, some antique weights and a broken air rifle!”
LET THERE BE LIGHT The result is a modern family home, now with three bedrooms. Lightfilled and perfect for entertaining, it has a central open-plan living, dining and kitchen area with folding doors that open onto the deck and garden. “The house started off with lots of small rooms – there was even one without any windows in the centre of the house,” says Alet. To achieve a spacious new look, they gutted five internal walls and converted the study, scullery, kitchen and one old bedroom into the open-plan kitchen and living area. The dark corridor was also opened up. “We wanted to retain the progression of space
from the entrance to the living area, so we kept parts of walls to frame each room while preserving the visual links.”
OPEN-PLAN LIVING Although Sebastian was wary of an open-plan kitchen at first, he soon came around to the idea. “We drew inspiration from a farmhouse with a generous open plan that I designed for my parents,” says Alet. “Sebastian initially wasn’t that fond of it, but the more we started going to their country house, the more we could appreciate how lovely it is to cook and have a glass of wine while others sit around and chat, and the messier side is moved to a scullery.”
A MARRIAGE OF TWO STYLES With a little help from friends, the couple installed the joinery themselves. This allowed them to splash out on some special features, such as brass pendant lights and a wraparound Carrara marble kitchen countertop. “In combination, they lend old-world glamour to the contemporary renovation,” says Alet. She and Sebastian also had to find a way to blend their personal styles – Alet loves light spaces, bright
HOMEFRONT
colours and minimal detail, whereas Sebastian prefers dark, dramatic interiors filled with antiques. Through compromise (and a shared Pinterest board) they achieved a look that combines bright colours with vintage finds. “We found some gorgeous mid-century and Art Deco pieces that suit the house to a tee at a second-hand furniture store in Heidelberg. We call our combined style Recessionism,” she jokes. Managing the renovation had its challenges, says Alet. “It’s the stuff nervous breakdowns are made of! Organising all the tradesmen, orders and deliveries for materials while running my own architecture and interior design practice… The idea was to make the budget go further but after all the surprises, I’ll be getting one of my professional contractors in next time while I stick to my part as the designer – it’s also much more satisfying.” In the end, however, it was all worthwhile. “As with any renovation, the most rewarding part must be reshaping a tired, neglected space into a bright home for your family. We feel we created a cosy space for ourselves and we love spending time at home.”
ALET’S RENOVATION TIPS • Have a clear vision before you start. The chaos of building work comes with enough uncertainty without having to make snap decisions about important features you might end up regretting. • Get reputable contractors on board. Ask around, speak to friends who have built before, read reviews and visit building projects to make sure the contractors’ experience is of a similar scale to your renovation. A contractor who is out of their depth can cost you much more than you
planned for. And if their price sounds too good to be true, it probably is. • Choose a few items to splurge on. Even on a tight budget, don’t underestimate the delight a freestanding bath or marble countertops could bring you every time you see it. • Add 40%. Whatever you think you’ll be spending on the renovation, add another 40% to that number. There will always be surprises, like finding out all the water pipes have to be replaced or a sagging foundation has to be underpinned.
where families come to grow up
+27(0)10 597 1040 sales@steyncity.co.za www.steyncit .co.za www.steyncity www.steyncity.co.za
Free standing | Clusters | Apartments | Offices
STANDS
3m18m
HOMEFRONT HOT TOPIC
New moves
BABY BOOMERS BY NUMBERS
2.1
million baby boomers are active in the property market.
22% of them have transacted since they turned 56.
78% still live in a
property they own by the time they turn 56. Source: Rainmaker Marketing
HomeFront compares generational property buying preferences – what interests baby boomers and where are Gen X-ers and millennials settling down?
WORDS: DEBBIE HATHWAY :: PHOTOS: SUPPLIED
Tree Tops Houghton by Tricolt
Age of buyers
Thousands
150 100 50
2010
Source: Lightstone Property
Oasis at Steyn City in Midrand
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ovid-19 has changed the way we live but, beyond shrinking budgets, changing sentiment is impacting investment decisions. The Wealth Report by Knight Frank publishes results from its annual Attitudes Survey, based on responses gleaned from 620 private bankers and wealth advisors who manage more than $3.3trillion for ultra-high net worth individuals (UHNWIs). This year’s report reveals that 45% of respondents believe wealthy investors are more and more concerned about the impact of the
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buildings they invest in on the wider environment. When asked how important wellness attributes are when choosing a new home, they emphasised access to nearby green spaces, the availability of wellness facilities, and property design and how it contributes to physical and mental wellbeing. The report quotes Alasdair Pritchard of Knight Frank’s Private Office team, who says young professionals are prioritising their health. “This is no longer the preserve of burnt-out executives in their 40s or 50s. Young professionals such as tech millionaires are increasingly
seeking a haven to retreat to for one month a year to focus on wellbeing.” Preferred locations for his clients include SA, New Zealand, the Alps, Malibu, the Hamptons, Sydney and Japan. Although design and functionality are important, setting and proximity to nature are the key factors. “Waterfront, forest and mountain locations are most in favour,” says Pritchard.
CLOSE TO NATURE Lightstone Property reports more families now work remotely and want to swap city life for the coast. “Those relocating create opportunities in the cities
for existing homeowners to buy up and first-time homeowners to enter the market,” says Lightstone head of real estate Esteani Marx. Estate agents have reported better-than-expected interest in coastal areas such as northern KwaZulu-Natal and the southern Cape. Nova Stella in Chakas Rock on the North Coast is a luxury estate ideal for baby boomers. It offers pet-friendly bespoke apartments starting from R2.195m for a two-bedroom, two-bathroom unit. Baby boomers (born between 1946 and 1964) with their considerable financial clout still represent a significant sector of the
BUYING POWER
• The 24-40 age group buys the most properties, including second homes, followed by the 40-49 and 49-64 age groups. • Millennials (born between 1981 and 1996) account for 56% of buyers purchasing second properties. Baby boomers (born between 1946 and 1964) account for 17%, and investors older than 65 for 6%. • Freehold property remains the favoured property type, followed by sectional title and estate living. Source: Lightstone Property Blok’s SIX ON N in Sea Point, Cape Town
residential property market, says Dr Andrew Golding, chief executive of the Pam Golding Property group. “This sizeable generation of late-50s to over-60s are investing in the comfort, security and spaciousness of lifestyle estates in appealing, countrified environs still within easy reach of hubs and all amenities,” he says. The baby boomers remain active and enjoy having leisure and sports activities on their doorstep. For those with means, a second leisure property in SA or offshore is very attractive. Those wishing to travel without being tied to a large property or who are downscaling or looking for a retirement property seek the convenience of a lockup-and-go sectional title apartment or townhouse, or a manageable coastal property large enough to host visiting family and friends. Golding says the lockdown has given further momentum to multigenerational living, with parents most likely from Generation X (born from 1965 to 1980), adult children and grandparents all living within the same estate.
GATED COMMUNITY Estate-living options suitable for baby boomers wanting to settle on the North Coast include Seaton Estate by the Royal Shaka Property Group, Zululami Luxury Coastal Estate by Collins Residential and Gold Coast Estate by Devmco Group in the Sibaya Coastal Precinct.
2012
2013
2014
18-24 In the “new north” between Johannesburg and Pretoria, Steyn City Parkland Residence is an excellent example of a large gated community. The estate is home to a range of ages but its retiree population fits the specs of a higher-income, active resident who tends to refire rather than retire. Steyn City marketing and events group head Zoe van Onselen says most of their retired buyers choose cluster homes for lock-up-and-go convenience. “They want a simple home with less maintenance. Security is also paramount and Steyn City is known for highly advanced security measures,” she says. At 65 on Park and Origin, the estate’s two cluster developments, baby boomers make up about 30% and 25% of buyers respectively. According to Tricolt CEO Tim Kloeck, baby boomers at Serengeti Estates, on the R21 between Pretoria and OR Tambo International Airport, are buying for lifestyle, safety and a great environment for walking. More centrally, Tree Tops Houghton apartments is a sectional title development that offers lock-up-and-go ease. “People buy here more as an investment but we do have a few retired residents,” says Kloeck. “They love Rosebank, which is close to their friends and favourite restaurants. They want to downscale, but in the area.”
LIFESTYLE BENEFITS Research by urban property
2015
24-40
2016 40-49
2017 49-64
developer Blok highlights the trend of “living outside the home, where millennials seek the lifestyle benefits a certain area affords over a larger private space”, says MD Jacques van Embden. Millennials (born between 1981 and 1996) are all about the neighbourhood and affordability. Fifty-six percent of survey respondents earned between R15,000 and R25,000 a month, which weights their current living circumstances towards renting. “This is not because millennials don’t want to own property, but rather because they want to invest in a modern space with new furnishings and there is little that fits the bill within their price range.” Van Embden says most of respondents also indicated they could only afford a property with a maximum price threshold of R750,000. The latest trend among millennials seems to be reinvestment. “In SA, it is expensive to buy property in trendy upmarket areas. Many millennials are choosing to buy property as an investment in a less expensive area and let it, while they rent in their suburb of preference. This is the generation of ‘rentvesting’,” according to Rainmaker Marketing. Launching November 21, Wedgewood Sandton has been shaped by a strategic partnership with the top award-winning property experts on the continent. This latest offering from
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2019
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65+ Balwin Properties defines a new way of city living, offering an engaged and accessible lifestyle through well-designed spaces and unprecedented facilities. One-bedroom, onebathroom apartments here start from R799,000. A R10,000 deposit secures the property, and bond and transfer costs are included. In Johannesburg, Balwin finds a market for priceconscious Gen Z-ers in secure complexes with amenities, such as The Reid in Sandton. “Clients prefer to be as close to work as possible but want the best value. The Reid is in a prime position near the business centre of this suburb yet surrounded by natural beauty,” says Balwin property executive Carmine Lord. One-, two- and threebedroom apartments come standard with free appliances and start from R809,900. “Most Gen Z-ers prefer central locations but millennials are definitely moving further out to suburban locations to get more for their money,” says Balwin property executive Michelle Blackburn. Targeting both groups is Balwin’s Ballito Hills development, 35km from Umhlanga in KwaZulu-Natal. Amenities on residents’ doorstep include a restaurant, a pool and a gym and spa, access to which is covered by levies and therefore costeffective. One-bedroom, onebathroom apartments start from R1,199,900.
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HOMEFRONT PROPERTY TREND
East or west, home is best The West and East Coast regions are sought-after residential areas offering a slower pace of life outside the city. We look at the latest developments here WORDS: HELÉNE MEISSENHEIMER :: PHOTOS: SUPPLIED
Pam Golding Properties is advertising this home in Langebaan Country Estate at R3.85m
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A’s Cape West Coast and East Coast regions with their relaxed family-friendly lifestyle, unspoilt beaches and many outdoor activities woo both semigrants and investors to commit to property there. Lightstone Property data on residential transfers from Q3 2020 indicates that more families are trading big city living for the coast. “People have semigrated to the coastal areas for a change of lifestyle,” says Lightstone head of real estate Esteani Marx. “There’s the financial aspect too, as some had to downscale or started working from home, contributing to a total shift in the market.” This mirrors the trend in other countries, where urbanites are moving to smaller towns or villages.
West Coast With quaint fishing villages, spectacular wildflowers and a largely pristine coastline, The West Coast is a popular holiday destination. Holiday towns such as Yzerfontein and Langebaan have had more retirees and young families moving in lately. They’re attracted to the affordability of larger properties where they can work from home and the variety of outdoor activities on offer. “Residents enjoy the quiet and the proximity to Cape Town if they need to pop into the office a few days a week,” says Pam Golding Properties area manager for the Western Cape Shelley Keys. “The lifestyle, a low crime rate and good schools, shops and a mall nearby complete the picture.” In Langebaan the semigration trend has escalated rapidly. “Over the
past few years many people, especially from the north, have fallen in love with the town and its lucrative growth opportunities. Then there is the slow lifestyle in unspoilt natural surroundings,” says Devmark Property Group national sales manager Bruwer de Jager. The market in the resale segment between R1.2m and R1.9m is very active among young families, according to Bruwer, whereas estates like Devmark’s Langebaan Manor are attracting mature, higher-LSM clients. Other trendy developments here include Langebaan Country Estate, Shark Bay, Da Gama and Longacres. Closer to Cape Town, quiet Yzerfontein has a growing population of remote workers. Fisherman’s Haven and Mile 16 Beach are among the most soughtafter neighbourhoods.
One of three mansions on a 2.4ha lifestyle farm close to Kabeljauws Beach in Jeffreys Bay, being marketed by Chas Everitt International at R35m for the entire property
Western Seaboard The greater Western Seaboard is close to the beaches at Lagoon Beach, Table View and Blouberg as well as the Durbanville winelands. The area is favoured by families in particular for its proximity to the CBD and the relative affordability of property here. Parklands in Table View and Sunningdale and Bloubergstrand in Blouberg were among the top five suburbs searched for nationally on the RE/MAX website during Q3 2020. “It’s all about the beach, the easy lifestyle and excellent value for money,” says RE/ MAX Property Associates broker-owner Caron Leslie. “The Western Seaboard has it all, from mansions in Parklands to the new security estate Sagewood in Sandown and family homes from R2m upwards.”
Apartments at Burmeister on Park in Milnerton are being sold from R1.3m (including VAT), also by Pam Golding Properties In Bloubergstrand and Big Bay, shopping malls, restaurants, cycling lanes and the MyCiti bus route add to the appeal for younger buyers. According to Pam Golding Properties area principal on the Western Seaboard Emarie Campbell, many first-time buyers were tenants during lockdown and favour freehold properties with outdoor space. “Sales are brisk in the R1m to R2m residential market and unit sales have increased by 35% year on year,” she says. “Freehold homes in security estates are in demand in the higher price brackets from R5m up.” Multigenerational Burgundy Estate offers amenities such as schools, a shopping centre and walking and cycling tracks. This is where developer Rabie Property Group recently launched Bow Tie, its first smart-enabled development. “Our lives have become so integrated with technology, why should your home be any different?” says Rabie director Miguel Rodrigues. Besides high-speed fibre, every apartment and townhouse comes with a Google Nest Hub loaded with the latest Google Assistant, allowing residents to control the lights, regulate the interior temperature and operate the TV. “We’re also fitting each unit with an intelligent home security system, manageable from a smartphone – all this at a smart price that makes it possible for first-time homeowners to invest in their own space,” he says. Bow Tie will comprise 88 apartments and 18 houses around a park with a children’s play area. Phase 1,
“Our lives have become so integrated
with technology, why should your home be any different?” Miguel Rodrigues, director, Rabie Property Group
launched on October 1, consists of 48 apartments and 12 houses.
Eastern Cape Bustling port cities, rolling hills and long Blue Flag beaches – it’s easy to see why there is brisk activity in residential property sales across all price ranges in the Eastern Cape hubs of Port Elizabeth and East London. “While the housing market here underperformed relative to the national market during much of the past decade, it has shown stronger price growth since late 2017,” says Sandra Gordon, Pam Golding Properties senior research analyst. “Now, even as national house price inflation slows, growth in prices in the Eastern Cape continues to gather momentum.” • PORT ELIZABETH: Pam Golding Properties area principal in Port Elizabeth Justin Kreusch says purchasers are eager to capitalise on the low interest rate. “The greatest demand is for family homes. We’ve had unprecedented activity in areas such as Richmond Hill, Walmer, Summerstrand and Mount Croix, as well as across the western suburbs. There is also good activity in the township markets.” The Amdec Group reports
a spike in buyer activity at its multigenerational estate Westbrook too, having sold 24% of Phase 1 of its second village in a month. MD Clifford Oosthuizen believes the rise in buyers opting for gated estates is a trend that will outlive Covid-19. One of the drawcards of this 128ha development, 15km from the city centre, is 48ha of peaceful open space. • EAST LONDON: Known for its beaches and nearby game reserves, this city has also had increased residential sales activity. Pam Golding Properties area principal in East London Sean Coetzee says properties across all the price ranges are in demand. “If buyers see quality and value, they will buy. The lower interest rate has helped drive this sentiment. The most popular price range is up to the R2m mark,” he says, adding that they also recently concluded top-end sales of more than R5m. Olivewood Estate near Chintsa East draws buyers looking for an ecofriendly lifestyle on a self-sufficient estate, with prices starting from R675,000. Khamanga Bay Private Residential Estate in Cintsa West and Balugha River Estate in Glengariff, too, have had a resurgence in interest from buyers.
• JEFFREYS BAY: About an hour’s drive southwest of Port Elizabeth, Jeffreys Bay has been booming for the past four months, according to estate agents in this surfing hot spot. They are currently selling three times as many properties compared with the same time last year, says Larika Botma of the RealNet Pristine franchise in Jeffreys Bay. “The prices of properties most in demand range from R1.3m to R1.6m and it is becoming a serious problem to find stock for sale, especially in the most popular suburb of Wavecrest,” she says. Jacques Strydom, the new Chas Everitt franchisee in Jeffreys Bay, confirms a spike in sales, saying many buyers are relocating from Johannesburg, Pretoria, Bloemfontein and Kimberley. “Everything in the R700,000 to R1.8m range is selling very quickly, especially in Wavecrest, Central and Fountains Estate,” Strydom says. “We’re also seeing high demand for coastal stands near Jeffreys Bay – especially in the Gamtoos River Mouth area, where stands of 600m 2 to 1,000m 2 in a nature estate are selling from about R200,000 to R500,000.”
HOMEFRONT PROPERTY NEWS
The Garden Route gets top ratings O nline global database Numbeo named George on the Garden Route the city with the best quality of life in SA for the second consecutive year, with Knysna ranking second in the same category and highest for healthcare. “We are seeing increased buying activity in this region,” says Pam Golding Properties area manager in George Stephen Murray. “As the de facto capital of the Garden Route and undoubtedly its largest urban centre – but without the traffic congestion – George offers a tranquil and picturesque alternative to city living, particularly for those who revel in the outdoors. And its wide selection of residential properties caters for all price sectors, ranging from below R2m to more than R20m at the very top end.”
According to Murray, the area attracts both firsttime buyers and a mix of purchasers from various age groups, including retirees. “The allure of the water’s edge, be it the beachfront or the inland lakes of Wilderness, and this region’s natural surroundings and lifestyle offering attract a wide spectrum of buyers from places like Cape Town, Mpumalanga and the Eastern Cape, as well as overseas buyers from the US, Germany and the UK,” he says. Apart from security, prospective buyers want a sense of space, especially in light of Covid-19 lockdown restrictions. These factors make gated estates popular, with Kingswood Golf Estate, Welgelegen Estate, Kraaibosch Country Estates and Fancourt topping the list.
Murray says many pay cash for estate homes, where entry-level prices start from R650,000 and completed homes range from R2.8m to R26.5m. Multigenerational living is also on offer, as a number of the existing gated estates have retirement developments on site. “Aside from estates, the average price band for freestanding family homes in George varies from R1.05m for a townhouse and up to R7m in the upmarket suburbs,” he says. With an international airport and at the heart of the country’s golfing mecca, George is less than five hours’ drive from Cape Town and about four hours from Port Elizabeth. Knysna and Plettenberg Bay, too, are enjoying demand for residential properties across the
price spectrum from buyers from SA’s metros, mainly Johannesburg. Says Pam Golding Properties area principal Gordon Shutte: “Buyers are mainly interested in vacant land to build their dream homes, especially in security estates but also at The Heads in Knysna and Keurbooms in Plett. Properties across the board are selling from R250,000 to R9.5m for vacant plots and, when it comes to houses, up to R15m but particularly active at the R5m mark. “Other sought-after areas include Belvidere, Simola Golf Estate, Pezula Private Estate, Thesen Islands and Leisure Isle in Knysna, and Whale Rock, Brackenridge Estate and Schoongezicht Estate in Plettenberg Bay. Our sales are well up on the same period last year.”
Cloudy outlook for Mother City post-Covid-19 A ccording to the Savills Prime Index: World Cities August 2020 report measuring the impact of Covid-19 on the world’s prime residential markets, rain is predicted for the Mother City for the rest of
Grenada lures more South African investors D emand for second passports and citizenship by investment (CBI) programmes has spiked since the move to Level 3 of the Covid-19 lockdown, says Nadia Read Thaele, MD of LIO Global, a firm specialising in second residency and CBI planning. Grenada tops the list, with an increase in applications of 120% compared with last year, Read Thaele says. Most investors are choosing to invest in real estate for the added benefits, but many families opt for the cheaper donation alternative. The success rate to date is 100%, she says.
Grenada is one of the few countries with both an active CBI programme and a bilateral investment treaty that allows living and working in the US via the E-2 Treaty Investor Visa programme. This is a significant drawcard for South Africans who want to gain access to the US, one of the most difficult countries to get into, Read Thaele says. Property investment starts from about R3.6m or about R5.37m for a family, including costs. This equates to the cost of an apartment in Mouille Point or Melrose Arch. FNB recently noted that emigration-related property
sales account for some 17% of all current sales in SA. But while many are actively looking to emigrate, Read Thaele says numerous wealthy South Africans are instead investing in offshore property in areas where they can secure a second citizenship. The Grenada E-2 visa costs substantially less than the US EB-5 investor visa and the process is simpler. The processing time for the E-2 visa is usually about two months, compared with five years for the EB-5 visa. Moreover, it would take another two years before you can move to the US on an EB-5 visa.
Offering more than just the enviable Caribbean lifestyle, Grenada is politically stable and has excellent tax advantages and an investment-friendly regime. As a member of Caricom (Caribbean Community, an organisation of 15 Caribbean nations and dependencies), it offers freedom within the Caricom group, including countries such as The Bahamas and Jamaica. The Grenada E-2 visa is also one of the fastest routes to second citizenship (under six months), and a passport with visa-free travel to more than 143 countries including the UK, the Schengen states, Singapore, Hong Kong and
Outlook by city for the rest of 2020 Forecast
China. If you invest in the real estate option, you are allowed to resell after three years (or five years if you sell to another CBI investor) and still keep the passport. The visa is valid for five years and can be renewed without any limit on extensions, provided that the underlying investment still qualifies. Spouses and dependants are usually granted the same period of stay as the principal. Another significant benefit is that the principal’s children under the age of 21 can attend a public or private school in the US and are eligible for in-state tuition.
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City Amsterdam Lisbon Seoul Moscow
ADVERTORIAL
Den Braven’s Mirrorfix-MS can attach mirrors to just about anything
2020, with cloudy weather on the cards in the long term. Commenting on the outlook for major world cities, the report makes mention of Cape Town’s market, which was adjusting to weaker economic realities
Watch how it’s done on the Den Braven Sealants South Africa Facebook page.
Geneva Paris Berlin Shanghai Beijing Shenzhen Guangzhou Hangzhou Tokyo Madrid Barcelona London San Francisco Singapore Miami Sydney Kuala Lumpur
even prior to the crisis, and its poor prospects for the rest of the year. While the long-term outlook is uncertain, the interest rate is the lowest in nearly 50 years and prime property is well valued.
Outlook by city for the next five years Forecast
City Amsterdam Lisbon Berlin Paris Miami San Francisco Geneva Moscow Kuala Lumpur Sydney London Madrid Barcelona Singapore Shanghai Beijing Shenzhen Guangzhou Hangzhou Tokyo Los Angeles
New York Cape Town Mumbai Seoul
New York Los Angeles Bangkok Dubai
Dubai Bangkok
Mumbai Hong Kong Cape Town
Hong Kong Source: Savills Research
FOCUS ON: THE SIGNATURE VILLAGES ADVERTORIAL
Endless possibilities Whether you’re starting up or slowing down, The Signature Villages at Serengeti Estates has the perfect luxury home for you WORDS AND PHOTOS: SUPPLIED
L
ocated within the secure surroundings of Serengeti Estates in Kempton Park, a world-class security and golf estate, the stunning cluster development The Signature Villages offers a luxury retirement option for young-at-heart retirees as well as premier duplex units ideal for growing families. The Signature Villages are perfectly placed at the heart of Serengeti Estates and aptly named after The Signature, Jack Nicklaus Signature Designed Championship Golf Course.
or golf cart ride away from the clubhouse. There is a range of properties to choose from at The Signature Villages, including single- and double-storey options measuring from 137m 2 to 235m 2 in multiple configurations varying according to the number of bedrooms and bathrooms. They all have garages, covered patios and space to park a golf cart. The duplexes have open balconies and views that seem to go on forever. The simplexes start from R2.79m and duplexes from R3.39m.
MULTIPLE CHOICE
TOP-END FINISHES
Serengeti Estates offers residents the freedom of expansive simplexes or premier duplex homes while enjoying the peace of mind and comfort of a low-maintenance lockup-and-go cluster. In addition to stunning views of the greens, residents who call The Signature Villages home will be a short walk
Each of the luxury cluster homes has been designed and finished to the highest standard, including imported tiles, appliances (an electric hob and oven, a fridge-freezer combo, a microwave, a dishwasher and washing machinedryer combo), Hansgrohe fittings and Caesarstone tops. The homes are all high-speed fibre ready and
have energy-efficient fittings and garden irrigation.
WORLD-CLASS AMENITIES Choose a lifestyle that suits your pace at The Signature Villages. Residents have access to all the worldclass amenities on offer at Serengeti Estates, including state-of-the-art security, two championship golf courses, a cubs course and a driving range. However, there is much more for outdoor enthusiasts to enjoy, from swimming pools, walking trails and mountain bike tracks to a dam for fishing. There is also a lifestyle and gym centre, where health and fitness practitioners are ready to assist residents. An Emer-G-Med ambulance service is also on standby. Four restaurants; a deli, bakery and coffee bar; a liquor boutique; a whiskyand-gin bar and conference and banqueting facilities complete the amenities catering for social and entertainment activities.
The needs of children and teenagers are not forgotten either – a diner for teens, a kids’ entertainment area and a Curro school on the premises are draw cards for young families. Recently the estate expanded even further with new offerings that include Mozzafiato, an openair piazza with multiple gastronomic options, and the Whistling Thorn 18-hole Par 3 Championship Golf Course – a first for SA – that was launched last year. With all these top services and facilities on offer in a secure village environment, who would ever want to leave? But, should you need to, it is good to know the shopping and business hubs of Johannesburg’s East Rand are close by and the easily accessible R21 highway makes travelling to Pretoria a breeze. What’s more, OR Tambo International Airport is just 15km away, allowing you to connect with the world in a matter of minutes.
GET IN TOUCH Tel: 011 552 7200 Fax: 011 552 7201/02 E-mail: info@serengetiestates.co.za serengeti-estates.co.za
Modern
life
100% TAX DEDUCTIBLE
Furnished studio and two-bedroom apartments from
R979,000 – R1,562,000 in the heart of Stellenbosch
6% rental guarantee in year one Up to 95% finance available
AT THE RIGHT PRICE
Invest in sought-after Stellenbosch Flyt is proud to present its latest development, Quivertree Apartments. Ideally located in the heart of Stellenbosch, Quivertree is a unique opportunity for investors looking for a low-risk, high-reward property investment. As a well-established serviced short-term and student accommodation enterprise with a strong track record, Quivertree is 100% Section 12J compliant offering stable returns and real value for money. With investment exclusively through the Flyt Select Fund, investors not only get a tax break (up to 45% of the unit value), but also the opportunity to choose their specific unit/s, all of which are fully furnished. Then, after the 5-year holding period, investors will own their units outright.
Location, location,
location
Stellenbosch has become a premier property investment destination that offers a substantial capital growth opportunity. With its rich history and culture, its vibrant university student life and proximity to the city and airport, it’s little wonder that student accommodation and short-term rental options in the area are in demand and usually in short supply. Quivertree is ideally located just over 1km away from Stellenbosch University, and is close to local services, shopping hubs and restaurants.
Furnished
apartments
The Quivertree property includes 102 sectional title units in total, comprising 75 studio and 27 two-bedroom apartments. All units are tastefully furnished and ergonomically-designed, featuring modern openplan kitchens with stainless steel fittings and appliances, electric hobs and ovens and quality flooring. Choose from a range of spacious, fullyfurnished units, with studios from R979 000 and two-bedroom apartments from R1 340 000. Sustainability is a big focus at Quivertree, the block boasts a solar roof installation, energy efficient heat pumps, 24-hour manned security, secure parking and on-site laundry facilities. Airconditioning units and heaters are installed in most of the apartments.
Rental
pool
All of Quivertree’s apartments form part of a formal rental pool, fully managed by on-site team WINK Aparthotels. Investors have access to many rental pool benefits, including furnished apartments at no additional cost, quality tenants, lower financial risk, higher returns and no admin. Under the WINK banner and part of the group’s offering is the WINK Café brand, which offers residents easy access to a vibrant coffee shop and casual daytime eatery.
Section 12J
fund
As a serviced short-term accommodation provider, Quivertree is Section 12J compliant. This means that SARS will finance up to 45% of the investment (depending on the investor’s marginal tax rate). Section 12J of the Income Tax Act was introduced in 2009 by the South African Government to encourage South African taxpayers to invest in local companies and receive a 100% tax deduction of the value of their investment. The investor receives a share certificate and a tax certificate, allowing the invested amount to be deducted from the investor’s taxable income, in the year the investment is made. The Flyt Select Fund is a registered Financial Services Provider (FSP) and registered SARS VCC (VCC-0008).
Financing Once you have chosen your Quivertree unit, you can finance your investment into Quivertree through the Flyt Select Fund yourself, or get up to 95% funding from Flyt. The investor is required to invest the purchase price of the unit as well as the associated costs before the end of the tax year.
About Flyt Flyt Property Investment is a Cape Town-based property development and investment team committed to finding opportunities that challenge the status quo. With a proven track record since 2011 across all property sectors, Flyt is dedicated to shaping the landscape, elevating the city, and partnering businesses for progress while setting the benchmarks of tomorrow.
Darryn van der Poel: (T) +27 (0)83 258 6316 | (E) darryn@flytproperty.co.za Justin van der Poel: (T) +27 (0)76 095 2848 | (E) justin@flytproperty.co.za
www.flytproperty.co.za/developments/quivertree www.anuvainvestments.co.za